Private Education Loans (Alternative Loans)
Federal loans may not be enough to cover all of your school-related expenses. After you have received all of your federal loan eligibility, you may consider applying for a private education loan (also called an alternative loan). Here are some things you should know before you borrow a private education loan:
- Most private education loans require a credit check.
- Most private education loans charge higher interest than Direct, Perkins, and PLUS loans.
- Some private education loans may charge lower interest than Unsubsidized Direct and PLUS loans depending on the signer and cosigner's credit score.
- Each private education loan has their own unique terms and conditions.
- Most private education loans require at least 6 credits and an eligible cosigner.
- Private education loans cannot exceed your cost of attendance including grants, loans, scholarships, and other financial resources.
There are many lenders who participate in this type of funding. The Utah State University Financial Aid office does not endorse any specific lenders. We provide the links below as places to start in your search for additional loan funding. Please take the time to carefully research the terms and conditions of each lender before deciding on which alternative loan to borrow.
FASTChoice offers a loan comparison and application tool for USU's most used private education lenders.
FinAid.org offers a comprehensive overview of private education loan programs.
The following lenders have helped USU students with private loan funding over the past three years:
- South Western Federal Credit Union
- Citizens Bank
- Discover Student Loan
- Union Federal Savings Bank
- U.S. Bank Student Loans
- Baxter Credit Union
- AmeriChoice Credit Union
- Heritage West Credit Union
- Digital Federal Credit Union
- Wells Fargo
- Chase - JPMorgan
- Sun Trust Bank
- Alliant Credit Union
- Comstar Federal Credit Union
- New Jersey College Loan to Assist State Students
- Sallie Mae
- Boeing Employee Credit Union
- GESA Credit Union
- Star One Credit Union
- Fynanz Student Loans
- Alaska Student Loans
Please note: This list has been randomly sorted.
If you have general questions about private education loans, contact your financial aid counselor for assistance. For specific details you will need to contact the private education lender directly.
International students please note: Private education loans for international students generally require a US Citizen cosigner.